Sale of Excess Land at Group Headquarters
Agreed sale of excess land at headquarters for £7 million cash proceeds over current financial year.
- Total cash proceeds £7 million
- Initial tranche £4 million
- Second tranche £3 million (prior due March 2026)
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CML Microsystems Plc (AIM: CML), which develops mixed-signal, RF and microwave semiconductors for global communications markets, announces that it has agreed the sale of excess land at the Group's headquarters in Essex to Chapel 110 LLP.
The disposal, which comprises non-operational land identified as surplus to requirements, is expected to generate total cash proceeds of £7 million, which will be received in two tranches over the course of the current financial year, being £4 million with immediate effect and the balance of £3 million during March 2026.
The sale forms part of the Group's ongoing strategy to unlock value from its non-operational property assets, as previously outlined in market updates. The proceeds will further strengthen the Company's balance sheet and provide additional financial flexibility to support ongoing growth opportunities.
The transaction does not impact the Company's operational activities, and the Group's headquarters will continue to operate from its existing facilities on the retained land.
Nigel Clark, Chairman of CML Microsystems, commented:
"This transaction demonstrates further progress in realising value from our non-core property assets and reinforces our commitment to efficient capital management in support of long-term shareholder value creation."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.